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IBM WHIFFS

Matthew BoeslerApr 19, 2013, 01:35 IST

Patrick H~ via flickr Creative CommonsIBM's Q1 2013 earnings release is out.

Earnings came in slightly below estimates at $3.00 per share (versus the $3.05 expected).

Revenues were $23.41 billion, versus estimates for $24.62 billion.

The numbers were dragged down by the systems and technology unit, which reported a 17% decline in revenues, and the services unit, which saw revenues fall 4%.

Business analytics revenues, on the other hand, were up 7% during the quarter.

The company re-affirmed its previous forecast for full-year earnings.

The stock is trading lower in the after-hours session.

Click here for the full release >